NWR - Northwest Resources

[pacer]

Say market cap get's to $15mill, then thats approximately 10x market cap in profits, and if you are looking for a 10% return then wouldn't that value the cap at 100 times the current cap, which means 100 times current sp....$30

Just a dumb calculation......what's your sp dream.

 

[blobbob]

NWR has option to purchase 100% interest in blue spec shear project, anyone know how much that will cost roughly?

 

[maffu]

I received my financial report from NWR today, is anyone going to the AGM?
Im new to owning shares and was wondering what are the goings on at an AGM and can you just rock up or do you have to let them know you are going?

 

[pacer]

Rock on up mate...they will have your name on the list, and will let you in...they will rattle for a bit and you throw questions at them, if you got any...it's all very interesting ...especialy when the company is in the poo....see my NEO post........that was my first...sp is down big time and is even worse now....keeps you entertained, and a good excuse to go into town for a pub crawl....lol....you can even take a mate!

 

[sydneysider]

NWR is in a JV with its majority shareholder which is a private company called Craigside Co Ltd. which owns 28.3% of NWR. JV terms are 65% to NWR on the shear zone and option to purchase at "market price" on a very large lease to the North of the two shears from a third party. The Chairman is Murray Black who owns a drilling company that has been drilling the heck out of Blue, Green and Gold Specs. In fact 80% of all funds have gone into drilling with corporate expenses taking only $300,000 for the year.

The Blue & Gold Spec Mines have been drilled down to around 300-400 meters and the very high grade vertical shoots are running at about 600 ozs per vertical meter of gold equivalent. It is highly probable that Green Spec will be similar but have an additional open pittable resource about 750 meters long sitting next to the plunging shoot system. Carmichaels analyst surmises that these three Specs are capable of producing 200,000 ounces of gold equivalent per year and the NWR Annual Report says that potential is here for at least +1,000,000 ounces of gold. IMHO at 500m depth x 600 ounces x 3 mines = appox 1,000,000 ounces so at depth of 1,000m that may be 2,000,000 ounces.

Then we have the twenty new Spec targets that are being drilled (currently reported as four drilled). They run in two parrallel lines and I call them Lassiters gold teeth IF they turn out to be high grade vertical gold shoots like the Blue Gold & Green Specs NWR will go to the moon as the potential on the shears will go into many millions of ounces with each "tooth" having the potential to carry 500,000 ounces down to 1,000m depth. So the total potential is in the range of 1-2 million ounces on the Blue Green & Gold Specs and then around 500,000 ounces on each "tooth" out of the twenty that turns up trumps. The spec potential is really quite staggering. NWR calls it the highest grade gold project in Australia and IMHO may turn out to be very, very large. At 31 cents NWR is valued at A$16,523,000 and with a public float of just 25,000,000 shares things could get very busy on the buy side. The coming quarterly report will start to reveal drilling data on the four "new" Spec targets and IF they turn up trumps we are into a new very high grade gold province of significant proportions.

 

[pacer]

See you at $30......lol...I'm buying more.....staggering!.....AUM/CDU potential.......am I right?...will it go gangbusters....breakout is happening....DYOR

 

[sydneysider]

Another very positive development on the potential of the two parrallel shear zones is they run into leases owned byWTE - Wedgetail. WTE has proven up inxs of one million ounces of au in reserves and resources and is fully funded for mine development and production.

WTE has directed all of its current drilling into the Eastern end of NWR's claim block where the Red Ribbon and Blue Spec Shears run into WTE ground (for about 7 kms). Drilling has been shallow RC and has found substantial quantities of open pittable high grade ore on the two shears in the "Golden Gate" area. IMHO this augurs very well for NWR's potential to find multi millions of hi grade ounces along 32 kms of shears that they control.

WTE is valued at $65,000,000 on the basis of open pittable low grade ore and NWR is $16,500,000. NWR could go to production at 40,000 oz per year on their existing plant and permitting. Next few announcement should be very interesting, as they are talking the highest grade gold mine in Australia, IMHO the next few reports will continue to show the very substantial potential of the area.

 

[maffu]

Another very good day for NWR shares today, price up 12% to 0.335(at 1pm). There is now very little selling volume with less then 150,000 shares on offer, some at prices as high as 50c, so im guessing we will see a slow down in trading volume unless demand really increases the price to the 40c range.

Im interested to see what announcements will be made in the next few weeks. Ill be holding for bigger and better things.

 

[sydneysider]

WTE has just released its quarterly and continue to confirm that the shear zones that run across from NWR's ground carry very decent gold grades at shallow depths. IMHO the whole area carries numerous occurences of gold at both shallow open pittable zones and plunging shoots. The areas that abut NWR's leases running north and soyuth also carry very decent potential for quantites of au. These zones stretch over many kilometers.

 

[Out Too Soon]

When do they start producing? Are there any dates set yet?

 

[x2rider]

hi folks

There seems to be very little on the sell side of this share with big gaps in between .
Does someone own a large parcel of these and is holding or are there just not that many shares out there ?
Good to see the number of trades starting to climb as well
Cheers martin

 

[saltyjones]

the jorc resource statement is due out in the coming days. this announcement will herald a new chapter in the short life of NWR. there has been a slow accumulation of shares by some people partly helped by the delays in bringing out the JORC. the delays were due to impressive new drilling results & an expansion of the jorc to include blue, gold & green spec deposits plus the camel creek deposit - that was drilled last year. one of the upsides is that the NWR tenements host 2 parallel shears 1 kilometre apart over 18 kilometres. they are currently drilling like blazes into virgin targets that may contain similar high grades as blue spec....& so the story goes on.......

 

[sydneysider]

Salty Jones, the market is just now figuring out what u just said may be very true. This will be one wild ride that is coming up in NWR who have already stated that they are drilling on the highest grade gold property in Australia.

 

[olive_tree]

hi folks
Does someone own a large parcel of these and is holding or are there just not that many shares out there ?

About 66% of the shares are held by the top 20 shareholders. Over 28% of the shares are held by one shareholder so yes they are tightly held. The options are tightly held too.

 

[white monkey]

results are out -- thoughts anyone?

 

[pacer]

Impressive results as expected, but I did expect more results from the other targets.

31.2 g/t is nice, and and as they say the deeper they go the higher the grades, and the 150 metres of drilling target below the blue spec initial drilling should be interesting...possibly up to 100g/t

Sorry I'm too tired to do any calculations and it may be later in the day, or tomorrow before any action on the SP happens.

 

[olive_tree]

Blue Spec is about what I expected given the target mineralisation of 150-210 thousand onces of gold. I was disappointed by Gold Spec and Green Spec, I thought given all the drilling they have done there would be more resource indicated and inferred to JORC standard. The Green Spec grades were lower than I had expected.

In general I was also disappointed that so much of the resource was inferred rather than indicated (or better) but I'm no expert in these things

 

[sydneysider]

After a careful reading of to-day's report the resource given on Blue Spec is preliminary. They are STILL drilling in the 320-470 m level of Blue Spec because their are additional shoots here. The data on Golden Spec is very preliminary (there are at least two shoots and seperate systems here) and only a very preliminary reading/ small area on the open pittable material is reported at Green Spec and nothing about plunging shoots.

IMHO to-day's selling is very uninformed, the true nature of this very high grade find is just starting to unravel thru a very targeted drill program. Lots of data will flow over the coming months that will make to-days sp look very very low.

 

[olive_tree]

I agree that there is probably a lot more gold which will be added to JORC resources in due course. However I had hoped that there would be a more defined resource at Green Spec since this together with similar finds which we hope they will make along the Blue Spec and Red Ribbon shears are what really gives the project great upside. They have in the past talked about indicative grades for Green Spec of 10g/t AU and 2% Sb but this obviously isn't yet backed up by enough drilling to get to JORC indicated and inferred status.

As always time will tell if the sellers or buyers on the day were wise.

 

[thestorm]

Absolutely disastrous announcement from the company today. Couldn't match the hype that had been spouting for months.

How could you possibly remian in this share after the company is basically screwing the shareholders around?!

Watch it fall back to 10 cents.